Today, the Department of the Treasury's Office of Foreign Assets Control (OFAC) published four Kingpin Act General Licenses, respectively: General License 1B, “Authorizing Certain Transactions and Activities to Liquidate and Wind Down Banco Continental, S.A.,” General License 4B, “Authorizing Certain Transactions Involving Individuals or Entities Located in the Panamanian Mall and Associated Complex, Soho Panama, S.A. (a.k.a. Soho Mall Panama),” General License 5A, “Authorizing Certain Transactions and Activities Related to the Panamanian Seizure of Balboa Bank & Trust,” and General License 6A, “Authorizing Certain Transactions and Activities Related to the Panamanian Intervention in Balboa Securities, Corp.” These General Licenses authorize certain transactions and activities that would otherwise be prohibited pursuant to the Kingpin Act. OFAC is also amending four Frequently Asked Questions.
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